Sunday, March 9, 2008

How Will You Spend Your Retirement Money?

This is frightening. The other day, I came across an article stating the average person (retiring soon) will need over $100k for medical expenses alone, in retirement. The amount is slightly more than double for a couple.

According to the article from the Yahoo Finance news website, the amount needed for medical expenses has risen 5.8% yearly, since 2002. So, 25 years from now, I'll need an estimated $123, 362.85 to cover my medical expenses. Though given the way healthcare is in the US, I can easily imagine it may be significantly more than that.

Ouch.

Retiring to a country with socialized medicine is starting to look really good...

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